I have been speaking to people who are about to retire or recently retired…and this is a kind of trend that I am seeing:

a. They have NO clue about how much they will require for a comfortable life ahead.

b. For many of them they say TAX is a big worry.

c. Not enough number of people are worried about Inflation.

d. Nobody, repeat nobody thinks that they will live beyond the age of 85. ‘My parents had a healthy life style…so they lived, I WILL DIE AT 75’ – is the normal answer…

e. Most of them think going to an ‘old age home’ will be a choice

f. Many of them are in denial about needing help to stay alone even in their 80s

g. ‘In my real last days I will live with my kids’ – common refrain. How practical is this, they have no clue.

h. Going to an old age home will be BECAUSE my children do not look after me AND THAT is  a social stigma.

i. I looked after my parents, it is my children’s duty to look after me.

j. I will go to a government subsidized hospital – so I do not need medical insurance.

However, even while they are making these tall claims, I am convinced that many of these statements are true, but not practical. A 84 year old believing that he can handle his equity portfolio or even his banking, sounds like a  joke. A 70 year old thinking he/ she will walk / take an auto to the market everyday is another joke…but well who said sense of humour has an age bar? it does not.


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  1. Subra,

    I am not surprised the people who already retired and about to retire have such thinking.. But, many people in 30s-40s also stand by these which is much more impractical.

  2. Subrabhai, if hospital inflation that I saw in 2010 was crazy– with ICU stay clearly a few lacs a week– one will have to allocate a chunk of savings for any future requirement, no way one can avoid this and no policy will cover this.

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